Let's say I have $1000 on a Lebanese bank account. If it's true what they say that they actually spent a good fraction of my money that means that the number is fake, and I actually have only a faction of that ($100?). In fact when I want to actually take it out the bank would give me say $100 but decrease the amount in my deposit by 1000.
But, does it matter? If people inside Lebanon could still transact with the "fake" amounts with bank wires and card payments and whatnot, the illusion would work as long as no interaction with the external world (International wires, and cash transactions)